Iran’s steel ingot production in the first seven months (Mar 20-Oct 21, 2020) of the Iranian stood at 16.9mn mt, up by 6.3pc from the prior-year period, according to the Iranian Mines and Mining Industries Development and Renovation Organization (Imidro). The steel ingot output includes billets, blooms, and slabs.
The country’s total finished steel product output in the Jan-Oct period increased by 9pc to 12.7mn mt as compared to the same period in the preceding year. The finished steel output includes beams, rebars, angles, studs, and sheets, among others.
The country is planning to increase its steel ingot production to 55mn mt by 2025, for which, it requires 160mn mt of iron ore per year, and hence, has reduced exports of iron ore, as per media reports.